TechFlow, November 8 — The University of Michigan's latest data showed that the U.S. consumer sentiment index dropped 3.3 points to 50.3 in November, the second-lowest level on record and significantly below the market expectation of 53.0. This marks the fourth consecutive monthly decline.
The current conditions index fell 6.3 points to 52.3, reaching the lowest level in history; the consumer expectations index declined 1.3 points to 49.0, the third-lowest since July 2022. Notably, the current consumer sentiment index is now lower than during all previous recession periods, including the 2008 financial crisis.
Analysts pointed out that although official inflation data shows some relief, prices for essential goods remain high, causing widespread economic pressure among American consumers. Many believe the U.S. economy is already in a recession.
